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Revenue Recognition (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Generated from Geographic Regions Revenue generated from the following geographic regions was (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

United States

 

$

1,849

 

 

$

5,247

 

 

$

5,263

 

 

$

9,365

 

United Kingdom

 

 

762

 

 

 

323

 

 

 

3,255

 

 

 

934

 

Rest of World

 

 

1,238

 

 

 

811

 

 

 

4,074

 

 

 

3,571

 

 

 

$

3,849

 

 

$

6,381

 

 

$

12,592

 

 

$

13,870

 
Schedule of Revenue by Timing of Transfer of Goods or Services

Revenue by timing of transfer of goods or services was (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Goods or services transferred at a point in time

 

$

459

 

 

$

4,391

 

 

$

3,099

 

 

$

6,893

 

Goods or services transferred over time

 

 

3,390

 

 

 

1,990

 

 

 

9,493

 

 

 

6,977

 

 

$

3,849

 

 

$

6,381

 

 

$

12,592

 

 

$

13,870

 
Schedule of Revenue by Contract Type

Revenue by contract type was (in thousands):

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

License and service contracts

 

$

3,070

 

 

$

5,982

 

 

$

9,930

 

 

$

11,586

 

Subscription-based contracts

 

 

779

 

 

 

399

 

 

 

2,662

 

 

 

2,284

 

 

$

3,849

 

 

$

6,381

 

 

$

12,592

 

 

$

13,870

 
Schedule of Changes in Contract Assets and Liabilities

The following tables present changes in our contract assets and liabilities during the three and nine months ended September 30, 2024 and 2023 (in thousands):

 

 

 

Balance at
Beginning
of Period

 

 

Revenue
Recognized In
Advance of
Billings

 

 

Billings

 

 

Balance at
End of
Period

 

Three months ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets:

 

 

 

 

 

 

 

 

 

 

 

 

Unbilled receivables

 

$

1,299

 

 

$

634

 

 

$

(525

)

 

$

1,408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets:

 

 

 

 

 

 

 

 

 

 

 

 

Unbilled receivables

 

$

2,820

 

 

$

924

 

 

$

(1,972

)

 

$

1,772

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at
Beginning
of Period

 

 

Billings

 

 

Revenue
Recognized

 

 

Balance at
End of
Period

 

Three months ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

4,444

 

 

$

3,220

 

 

$

(2,257

)

 

$

5,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

4,359

 

 

$

3,442

 

 

$

(1,889

)

 

$

5,912

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

 

Revenue Recognized In
Advance of Billings

 

 

Billings

 

 

Balance at End of Period

 

Nine months ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets:

 

 

 

 

 

 

 

 

 

 

 

 

Unbilled receivables

 

$

1,401

 

 

$

2,770

 

 

$

(2,763

)

 

$

1,408

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets:

 

 

 

 

 

 

 

 

 

 

 

 

Unbilled receivables

 

$

2,929

 

 

$

2,601

 

 

$

(3,758

)

 

$

1,772

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

 

Billings

 

 

Revenue Recognized

 

 

Balance at End of Period

 

Nine months ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

5,537

 

 

$

6,441

 

 

$

(6,571

)

 

$

5,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

3,733

 

 

$

7,670

 

 

$

(5,491

)

 

$

5,912